EarningsAIG reported operating EPS of $1.23, beating consensus of $1.10, with the upside driven by lower catastrophe losses and higher net favorable prior year development.
Financial PerformanceTotal net investment income increased 12% YoY to $898 million, reflecting higher income on short-term investments due to higher yields and Corebridge dividends.
Stock ValuationAIG's shares trade at around 1.0x book value, which is lower compared to peers that are above 1.6x, suggesting the potential for a relief rally in the share price.